Humber/Ontario Real Estate Course 3 Exam Practice

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Humber/Ontario Real Estate Course 3 Exam with our practice quizzes. Study using multiple-choice questions complete with hints and explanations. Ace your exam with confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Mr. and Mrs. Lincoln are considering transferring the title of their home to a private investor. What legal document would best achieve this?

Foreclosure
Judicial Sale
Power Of Sale
Quit Claim Deed

The correct answer is: Quit Claim Deed

The most appropriate legal document for Mr. and Mrs. Lincoln to transfer the title of their home to a private investor is a Quit Claim Deed. This type of deed allows the current owner to transfer their interest in the property without making guarantees about the title's status. It straightforwardly conveys whatever interest the grantor has, whether it's complete ownership or just a partial interest. This is particularly useful in situations where the owners may want a quick and simple method to transfer the property, as it does not involve the rigorous title searches or assurances typically associated with warranty deeds. In this context, Foreclosure, Judicial Sale, and Power of Sale refer to processes related to the repossession of property due to non-payment of mortgages or other encumbrances and do not pertain to voluntary transactions between private parties to transfer ownership.